市场见解

Nexus Minerals (ASX:NXM) share price plunges 27% as drill results fall short

Could the exploration company’s latest drill results have fallen short of investor expectations?
The post Nexus Minerals (ASX:NXM) share price plunges 27% as drill results fall short appeared first on The Motley Fool Australia. –

Shares in exploration company Nexus Minerals Ltd (ASX: NXM) are taking a nosedive today and are trading 27.45% down at 37 cents apiece.

Nexus is tanking as investors respond to a company announcement out of its Crusader–Templar Prospect, located within the Company’s Wallbrook gold project in WA.

Nexus shares have sunk as low as 33 cents early on today before levelling back off at the current levels. This downside extends selling pressure that’s been in situ since 13 December for the company. With that in mind, let’s take a look at what was released.

What did Nexus announce today?

Nexus advised of what it dubbed as “high-grade assay results” from recent drilling at the Crusader–Templar Prospect.

The release pointed to a figure showing the “limited amount of drilling undertaken to date and the opportunity that exists both within the known strike distance and also at depth”.

Nexus says that as more drilling is completed from its reverse circulation (RC) drilling program, the density of drilling will increase, and internal characteristics to the mineralisation “including internal plunge geometry to the mineralisation will mature”.

Specifically, the release noted that the “alteration” observed in diamond hole number 4 that did not correspond to mineralisation, is believed to be a function of a “very late-stage cross cutting oblique structure”

Playing a level tone, the company explained that the drill hole represents “only a point in space, and a very small component of the total strike length, [however] this late-stage structure has provided a conduit for increased fluid flow/silica flooding but in doing so has re-mobilised the gold”.

Aside from that, the company added that gold mineralisation tenor and widths observed to date are consistent with broad mineralisation in the shallower levels of less than 100 metres. Two holes at this range are at 29m at 4.60g/t Au within 71m at 2.06 g/t Au from 25m and 16m at 2.31g/t Au within 68m at 0.98g/t Au from 28m, per the release.

These shallow levels then give way to “broad high-grade intersections” at depths of more than 100 metres, including 13m at 5.17g/t Au, within 25m at 2.95g/t Au from 109m and 5m at 4.93g/t Au, within 8m at 3.31g/t Au from 115m.

As such, Nexus explained it has 3 RC drill rigs and 2 diamond drill rigs booked for a January start, and a 50 person exploration camp ready to be established at Wallbrook in early January, to cater for “significant increase in exploration activity” in 2022.

Management commentary

Speaking on the announcement, Nexus Managing Director Andy Tudor said:

The broad high-grade gold results continue to impress and build our confidence in the continuity of the high-grade gold mineralisation at Crusader-Templar. The results from DDH#4, which appears to have been drilled down a cross-cutting post-mineralisation structure, continues to increase our understanding of the gold distribution in this very large system.

Despite its recent challenges, the Nexus share price has soared 196% in the last 12 months, after rallying a further 185% this year to date.

In the past month, it has reversed course and is 33% in the red after sliding another 37% in the past week of trading.

The post Nexus Minerals (ASX:NXM) share price plunges 27% as drill results fall short appeared first on The Motley Fool Australia.

Should you invest $1,000 in Nexus Minerals right now?

Before you consider Nexus Minerals, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Nexus Minerals wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Marley Spoon (ASX:MMM) share price leaps 17% on acquisition news

Rhinomed (ASX:RNO) share price surges 9% on world-first trial result

This metaverse ASX share is a buy: expert

How to make share market volatility your friend: AustralianSuper CIO

The Liontown (ASX:LTR) share price has shed 22% this month. Is it a bargain?

The author has no positions in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

随时随地,交易世界!

移动APP平台,拥有 12 个市场的 50,000 多种全球上市证券(全球市值超过 70%),直接在您的 Android 或 iOS 设备上即可操作。

与独有的交易理念和投资分析工具相结合,帮助您在我们 12 个全球市场中的几乎所有金融工具上找到可操作的见解,从而帮助您优化交易策略。

推荐给您的朋友

向您的朋友推荐Monex并赠予他们免费使用我们交易工具的机会

我们尊重您的隐私,只会向您的朋友发送一封邮件 

与您的朋友分享

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!